Hi Friends,

I had been to the FAIRPRO '09 Fair.My Impression after seeing, is that prices are stagnating for all ongoing projects and builders are trying hard to hold them up.

Prices are 10-20% lower for new projects in the pipeline and for ready to occupy flats.

The discount offered at the stall was very less and were in the range 150-500 Rs/sqft max.

For the benefit of fellow members I am posting the project/price details of some of the properties.



Akshaya Foundations

Adora - OMR - 3750/sqft
Aikya - Adyar - 12500/sqft

Alliance Group - Orchid Springs - 3199/sqft

Arihant Foundations

Heirloom - Thalumbur - 2499/sqft
Escapade - Thoraipakkam - 4150/sqft
Villa Viviana - Maramalai nagar - starting from 1 Crore

Asvini Foundations

Amarisa-phase1 - Ramapuram - 4500/sqft
Amarisa-phase2 - Ramapuram - 4250/sqft
Akshita - Madipakkam - 3800/sqft

Casa Grande

Riveira - Palikkarnai - 3450/sqft - before discount 3600/sqft
Silver Oak - Perungudi - 4300/sqft - before discount 4500/sqft
Madhuban - Madipakkam - 3300 /sqft - before discount 3500/sqft
Mylapore - R.K.salai - 12500/sqft
Plots
Ponmar -785/sqft - before discount 825/sqft
Maraimalainagar - 790/sqft - before discount 825/sqft

CeeDeeyes - Chenni Pattinam

Basic Rate - 1600/sqft All Inclusive - 2075/sqft

Chaitanya shanthiniketan

Sunnyvale - Ayanavaram - 4850/sqft
Serena - Rajkilpakkam - 2550/sqft
Gardenia - OMR - 1900/sqft
Green Park - Chitlapakkam - 3300/sqft

DLF

Gardencity - 3200/sqft - was told slash in prices expected in coming weeks.

Doshi Housing

Etopia I and II - Perungudi - 3895/sqft
Nakshatra - Tambaram - 2995/sqft - Completion May 2010
Tranquil - Velachery - 5500/sqft - Completion February 2010
Trinity park - Santhoshpuram,Vengaivasal - 3195/sqft - Completion April 2009
Serene Couny-Villas - Santhoshpuram,Vengaivasal - 2200,2600/sqft
LlanStephan - Chetpet - 9000/sqft - Completion May 2009
Sri Mahalakshmi - Ayanavaram - 4495/sqft - Ready to Occupy

ETA

Rosedale - OMR - 3100/sqft
Le Chalet - Villas - Sriperambudhur - 26 Lakhs - 37 Lakhs

Hiranandani Upscale - 4200/sqft

Hiranandani Palace Gardens - 3475/sqft

Indus Housing

anantya - Navalur,OMR - 2299/sqft + 400(other charges)
riviera villa - Navalur,OMR - 90 Lakhs onwards
habittera - urapakkam,GST - 2399/sqft + 400(other charges)
amber - Saidapet - 4750/sqft

Jain Housing

Ankush Prakas - Kilpauk - 7500/sqft - Ready to occupy
Amrit Kailash - Strahns Road - 4500/sqft - Ready to occupy
La Gardenia - Nungabakkam - 7500/sqft - Ready to occupy
Ansruta - Valluvarkottam, nungabakkam - 10000/sqft - Ready to occupy
Antariska - Kodambakkam - 4500/sqft - Ready to occupy
Eiffel Garden - Vadapalani - 4250/sqft - Ready to occupy
Saagarika - M.R.C Nagar, sea facing - 10000/12500 - Ready to occupy
Green acres - Pallavaram - 3900/sqft - Ready to occupy
Abhishek - Selaiyur - 3500/sqft - Ready to occupy.

Jamals

Orchid - Palikkarnai - 3500/sqft
Palazzo - keelkattalai - 3700/sqft
Grandeur - Velappanchavadi(near saveetha dental college) - 3200/sqft

KGEYES

3 Projects on L.B.Road, Thiruvanmiyur - 6650/sqft
Delmare - Beach road,Thiruvanmiyur - 7000/sqft
Carolina - Velachery,Taramani - 4500/sqft
Swathi - Sastri Nagar,Adyar - 8500/sqft
Kalakshetra - 8000/sqft

Landmark Constructions

Tiara - Perungudi - 4000/sqft - Completion on August 2009
Aston Ville - Vadapalani - 5500 sqft - Completion on July 2009
Tudors Place - K.K.Nagar - 6500/sqft
The Address - Adyar - 11500/sqft
The Grange - Palavakkam - 7500/sqft
Cenralia - Chrompet - 2950/sqft - prelaunch
Gem Towers - AnnaNagar - To be launched.
Mahalakshmi Heights - Ashok Nagar - To be launched

L&T Estancia
Construction in Progress
1st-3rd Floor - 3950/sqft
4th -12 floor - floor rise charge of 20/sqft for each floor
13th - 17th - 4450/qft

L&T Eden Park - 3600/sqft

Mantri Synergy - OMR
2800/sqft - with 20/floor rise
Special offer - First Floor - all inclusive
1140 sqft - 33,67,000
870 sqft - 28,50,000

Navin Housing

Dayton Heights - Nelson Manickam road - 6500/sqft + 30/sqft floor rise from 2nd floor
Subha Mangala - Ramapuram - 4200/sqft
Brookfield - Nanmangalam - 3500/sqft
Merrylands - Medavakkam - 3500/sqft

Olympia Opaline - 3441/sqft - spl budget flats available

PACE Builders

Anna nagar west - 4195/sqft - before discount 4495/sqft
Selaiyur - 3195/sqft - before discount 3495/sqft
Valasarvakkam - 2795/sqft - before discount 3295/sqft

PS Srijan

The Grand - Velachery - 5250 sqft - before discount 5500/sqft - Floor Rise applicable from 4th floor

Rajparis

Harmony - Medavakkam - 3100/sqft

Rajarathnam Constructions

RC Prince Gardenia - Perambur redhill road,Kolathur - 3600/sqft

Rajkham

Independant houses - Ayyapathangal - 2600/sqft

Real Value

Sai Skanda - Velachery - 4200/sqft
Sai Surya - Palikaranai - 3800/sqft
OMR opp SIPCOT - 13.20 Lakhs onwards

Shriram Properties

Trishakti - SIPCOT - 2750/sqft
Shankari - 1990/sqft

Sidharth foundations

Tulip - k.k.nagar west - 4800/sqft - completion march 2009
Natura - medavakkam - 3100 /sqft - completion july 2009
Visvaleela - Annanagar - 8500 /sqft - to be launched
Dakshin - Urapakkam - price TBD - to be launched
upcoming projects in porur, thoraipakkam, rajkeelpakkam, mogappair.

SIS

Safaa - Urappakam - 3150/sqft

SSPDL

Crescent - Kelambakkam - Vandalur Road - 2500/sqft
Upcoming 2 villa project one in OMR and one in Sriperambathur.

Sumanth & Co

Thiruvanmiyur - 6000/sqft
Besant Nagar - 11500/sqft

TVH

Lumbini square - Pursaiwalkam - 5500/sqft + 30/sqft floor rise from 5th floor
Ouranya Bay(Premium) - OMR,Padur - 3100,3200 + 25/sqft floor rise from 5th floor
Ouranya Bay(Budget) - 2bhk - 20 Lakhs
3bhk - 30 Lakhs
Ekanta - Coimbatore - 3100/sqft
Revata - Mogappair east - 4500/sqft
Kamya - K.K,Nagar - 7000/sqft
Metro Golden Nest - Sriperambathur - 1bhk - 15 Lakhs
2bhk - 22 Lakhs
3bhk - 28 Lakhs

VGN Group

Minerva - Mogappair,Nolumbur - 2975/sqft
3 in 1, 4 in 1 - 3800/sqft
Mahalakshmi Nagar,Thiruverkadu - 3500/sqft
Plots
Mugalivakkam - 52 Lakhs/grnd
Selaiyur - 50 Lakhs/grnd
SPKoil - 34 Lakhs/grnd
Katankulathur - 22-27 Lakhs/grnd

Yuga Homes

Shem Park - chemmenachery - 3300/sqft
Upcoming in Koyambedu, R.A.Puram(8000/sqft)



There are lots of properties and also lots of potential buyers.There is sure a sense of uncertainity among the builders and also the buyers on when to make the next move.It was evident that correction in RE prices have started to happen.

Requesting members to respond with their thoughts on the current trend.
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  • Last registration done in same flat on Jan 2016 for 6700sqft.for details can check encumbrance certificate for latest resale prices.thks
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  • Price of resale apartments in Chennai is between Rs.5,000 - Rs.12,000 per sq.ft depending upon the locality , age , quality of the construction of the apartment .
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  • The real estate market in Chennai is expected to see a drop in new launches in the near future, followed by a price hike, as piled up inventory would be consumed by the time and there would be more demand than supply, say industry experts.

    New launches have dropped by 62 per cent in 2015, over the previous year, indicating that developers have been cautious about investing in new projects and have kept a check on piling inventory, said the latest Chennai residential real estate market commentary by real estate consultant firm JLL India.

    Absorption rate increased to 31.3 per cent in 2015 from about 26.6 per cent in 2014, and while there was a decrease in launches this year, the number of sale deeds showed a rise. This resulted in clearing a lot of unsold inventory that had piled up, facilitating an upward correction in the market, the report added.


    According to JLL data, new units launched in 2015 stood at 8,601, while 20,484 units were sold, which was one per cent lower than the previous year sales. Unsold units in 2015 were 45,017, down 21 per cent over the previous year.

    "The new files submitted for approval with the regulatory authority have come down almost 40 per cent during the year. With the demand absorbing the available inventory and new projects expected to take some time to hit the market after getting the regulatory approvals, we are seeing a price appreciation in real estate," said T Chitty Babu, chairman & CEO of Akshaya Homes and chairman, best practices, Credai National. He was commenting on a panel discussion organised by industry organisation Confederation of Real Estate Developers' Association of India (Credai), Tamil Nadu, in collaboration with JLL, on the Chennai market.

    Concurring with the view, Sandeep Mehta, Jain Housing & Construction Ltd said that the industry is currently offering various discounts, but they would not last for long. For the customers looking to buy a house, this could be the right time considering that prices are set to increase.

    The market started seeing a revival in the second half of January, said R Kumar, deputy general manager, real estate and housing business unit, State Bank of India. He added that after the collapse of a residential building under construction in Maulivakkam last year, customers have started looking for better, albeit more expensive properties, he added.

    The Chennai real estate market started reviving after the December floods that affected the industry for a short period, he added. While there were negative sentiments following the floods initially, people have started moving forward now, he said.

    Sanjay Chugh, national head-mandated sales & business head-Chennai, residential services said that the Chennai real estate market has seen more customer enquiries and walk-ins during the second half of January and February. This is expected to convert into actual business, which would be a positive development in the market, he added. He said that owing to the demand supply situation and its movement, real estate prices are expected to see an increase.

    However, the overall cost of owning real estate has to come down, including the cost related to the land and receiving the necessary regulatory approvals for it to see better growth, said Ajit Kumar Chordia, president of Credai Chennai.
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  • Originally Posted by mka100
    Why 50% discount for completed homes ? Are there no takers for their projects ?

    Amarprakash frequently advertise such discounts, but actually their flat price remains the same even after their DISCOUNT.
    They quote Rs 3000/sqft during normal time and during 50% discount time price tag shows Rs 6000/sqft.
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  • With the up coming offers and discounts, do the builders and their untrained ground sales staff think the buyers as idiots !!!
    Because of greed the industry is now suffering to breath, still have learning it seems someone who is capable of buying a product of such price will be definitely intelligent enough to identify such immature sales pitch and it will waste lot of time.
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  • Where can we find the unsold inventory and the recent registrations of property, mainly land?
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  • 1. Unsold inventory - you can read the reports from market analyst like Knight frank, Cushman & Wakefield, etc.
    2. Recent registration , you can file an RTI under RTI Act 2005 to the respective registrar office and get the records copy as in the registrar office

    Note : The registration value provided may not be 100% reliable as the cash transaction carried as hidden trade from government eyes will not be available with Registrar office records, so this Delta part should be covered by either adding an assumption of 20% -25% + the value received in RTI response or reliable word of mouth information discounting Agents and indirect beneficiaries in real estate trade.

    Best Wishes
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  • Will the destruction caused by VARDAH Cyclone to Chennai City have an impact on the RE Prices or RE Projects ? Many Posh areas have most of their trees fallen down and many transformers have either been badly damaged or fallen down and it will take a long time for proper Power supply to set in .Right now only temporary power is being given which is a big relief . Seems Chennai is being hit by a "December Curse "
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    1 Comments
    • ashokb231 years ago
      Definitely there will be an impact to price. I am seeing Clients coming from west for IT services to india are afraid not by Vardah, but by facts and data showing trends of BCP ( Business Continuity Plan) Expenses in their Chennai delivery center. The same fear was there when Bangalore was behaving unlawfully during kaveri issue. Though both can't be compared, as Karnataka evidenced a man made loss, that comes under Govt. control and Govt. failed to support business, but chennai reported a law obedient state, but with risk of natural calamities.

      It is easy for IT services to move out, than manufacturing companies with plan erection. There is a wow factor form Andhra and emerging telengana, If the movement of business happens, then potential customers/ buyers will reduce, subsequently demand will reduce and supply will overkill the demand. No other choice equivalent price to be reduced. It will take at-least 4 quarters to see the impact in numbers.
      As usual i am seeing RE sector claims growth with a hypothetical scenario. Anyways facts can be delayed by hypothesis but not changed.
      But be prepared, this could be an last exit route for corporate to sell existing stocks and then accept the facts. First time buyers, just wait and watch for at least an year.

  • If you think demonetisation will make property cheaper, you could be wrong. Here's why
    Read more at:
    http://economictimes.indiatimes.com/articleshow/56183699.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst





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  • Originally Posted by Cholan

    If you think demonetisation will make property cheaper, you could be wrong. Here's why
    Read more at:
    http://economictimes.indiatimes.com/...campaign=cppst







    Article was written on Dec 26 2016 and by, guess who, SmartOwner founder, whose bread and butter comes from structuring Real Estate deals.

    If you ask a barber, can I delay my haircut ? Barber will point to uptrend in haircut prices and will want you to have it today :).

    Article does have a point which no one can deny: Those transactions that are 'white only' will be unaffected. Smartowner is based in Bangalore and deals predominantly in Blore. Everyone who has seen RE and darker side knows how much 'cash' rolls in there. There is RE outside Blore which was not the focus of the article.

    Demonetisation impact is nothing compared to what Budget had in store for RE and was in the attack line of 'White only' transactions taking advantage of tax sops. This undermines the real investment case for RE. Former can thrive even in higher prices as it is a leveraged bet and as long as the gravy train chugging, investor will get his returns. Not any more.

    Honestly, how many would buy RE for investment, if there is no loan? What is the true demand for such cases? Answer to this will show you the demand trends for RE.
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  • How is Tata Homes New Haven in Mambakkam? Is 65 Lakh very good price for 1152 sq.ft.?
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  • What will be the resale price of 2 bhk apartment in adambakkam? The locality is nearby G.K Shetty and DAV schools??
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  • About 60 lacs for a 1000sft,10year old flat.
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  • Realty sentiment hits 3-year low in December quarter on note ban: Report
    Hit by demonetisation, total housing sales of the top eight cities fell by 40% in the fourth quarter of 2016 as against the previous three-month period.NEW DELHI: The real estate sentiment fell to a three-year low in the October-December period, indicating pessimism among developers and financial institutions which reeled under the demonetisation pressure, says a report.

    However, property consultant Knight Frank India and industry body FICCI said in a joint report that developers, banks and private equity investors are optimistic that market situation would improve in the next six months.

    "The demonetisation of high value currency notes of Rs 1,000 and Rs 500 was the most sweeping change in recent history, which was a rude awakening for the Indian economy with the real estate sector being at the receiving end of this move," the Knight Frank-FICCI joint report said.

    Hit by demonetisation, total housing sales of the top eight cities fell by 40 per cent in the fourth quarter of 2016 as against the previous three-month period.

    "Consequent to the major disruption during Q4 2016, the current sentiment score has seen a drastic fall to below the threshold mark of 50 to become the worst quarter in the last three years. This implies that stakeholders' sentiments pertaining to Q4 2016 is pessimistic," the report said.

    The real estate sentiment index, based on a quarterly survey of key supply-side stakeholders, including developers, private equity funds, banks and non-bank financial companies (NBFCs), fell to 41 from 58 in the previous quarter.

    "The respondents are of the opinion that the situation during the last quarter of 2016 was significantly worse compared to six months prior, reflecting the short-term adverse impact of demonetisation on the Indian real estate," the report said.

    However, the respondents welcomed the government's steps to bring transparency into the sector through demonetisation move and the new real estate law as well as the Union Budget's focus on making home purchases affordable.

    "The future sentiment score of 62 is a good indicator of the robust optimism portended by the stakeholders for the real estate sector in the coming six months."

    "The demonetisation move did infuse a high degree of uncertainty and confusion in the market but this impact seems to be transient in nature and the mid-to-long term impact is expected to be positive," the report said.

    Although the residential sector is going through a difficult phase, the stakeholders are quite optimistic for the future, especially with regards to sales volume.

    "59 per cent of the stakeholders believe that residential sales will improve in the coming six months, as against only 12 per cent that believe to the contrary," the report said.

    "45 per cent of the respondents expect prices to remain stagnant while 26 per cent expect a downward pressure on price appreciation, during the same period," it added.

    http://realty.economictimes.indiatimes.com/news/industry/realty-sentiment-hits-3-year-low-in-december-quarter-on-note-ban-report/57322864
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